WELCOME BACK TO "SQUAWK BOX," EVERYBODY.
FRIDAY WAS A HUGE DAY WHERE YOU SAW THE DOW DOWN BY ALMOST 400
POINTS, AND S&P FUTURES ARE DOWN BY 18 AND THE NASDAQ DOWN BY 48
AS EVERYBODY AWAITS THE FED MEETING NEXT WEEK.
JOINING US ON THE PHONE AS PROMISED, PRESIDENTIAL
CANDIDATE, DONALD TRUMP. GOOD MORNING.
I THINK IT WAS -- IT WAS NOT THE ONLY TIME, IT WAS LAST WEEK
OR IN THE LAST COUPLE WEEKS YOU MADE THE POINT THAT IN YOUR VIEW
YOUR OPPONENT, HILLARY CLINTON, DIDN'T HAVE THE STAMINA EITHER
MENTALLY OR PHYSICALLY TO BE PRESIDENT, AND GIVEN YESTERDAY'S
EVENT, AND I AM SURE YOU DON'T TAKE ANY SATISFACTION IN WHAT WE
SAW YESTERDAY, BUT WOULD YOU SAY THAT YOU WERE PROBABLY CORRECT
IN YOUR ASSESSMENT? WELL, I DON'T TAKE
SATISFACTION, JOE, AND FRANKLY, YOU KNOW, I HOPE SHE GETS WELL
AND I HOPE SHE GETS WELL SOON, BUT, YOU KNOW, IT WAS QUITE SAD
TO BE HONEST WITH YOU. I HOPE SHE GETS WELL SOON.
NO SATISFACTION, BELIEVE ME, WHATSOEVER.
I THINK I DON'T KNOW, BECAUSE I HAVE NOT KEPT TRACK OF YOUR
ENTIRE SCHEDULE, BUT IT'S A GRUELING PROCESS WHAT YOU ARE
GOING THROUGH AND YOU ARE ON A PLANE LOT NOW, AND --
I AM. AND IT'S NOT EASY GIVING
HOUR-LONG SPEECHES DAY AFTER DAY AFTER DAY, SO IT'S GRUELING AND
I THINK YOUR SCHEDULE HAS BEEN MORE GRUELING THAN THE ONE SHE
IS PURSUING, AND THAT HAS BEEN DOCUMENTED?
IT HAS BEEN AND IT HAS BEEN A VERY TOUGH SCHEDULE.
YOU GO FROM ONE CITY, WE ARE GOING FROM PENNSYLVANIA, OHIO,
FLORIDA AND ALL OVER OVER THE NEXT, YOU KNOW, DAY OR SO AND
YOU GO TO A LOT OF DIFFERENT WORK -- YOU ARE NOT PUTTING UP A
LOT OF MONEY TO FUND MY CAMPAIGN SO THE FUND-RAISING NOT A BIG
DEAL BUT TURNED OUT TO BE AMAZING BECAUSE WE HAVE THE
INTERNET, AND IT'S CALLED NEW WORLD FUND-RAISING AND MILLIONS
AND MILLIONS OF DOLLARS ARE COME INTO THE CAMPAIGN IN SMALL DOSES
BY SMALL DONORS. WE HAVE, I THINK IT'S AVERAGING
$61 WE HAVE TAKEN IN, JUST A TREMENDOUS NUMBERS OF DOLLARS
WHICH NO REPUBLICAN HAS BEEN ABLE TO DO BEFORE.
IN JUNE I THINK WE TOOK IN $27 MILLION, AND NOW WE ARE TAKING
IN MUCH MORE THAN THAT AND WE ARE RAISING A GREAT DEAL OF
MONEY, INCLUDING WE ARE BEING HELPED BY WONDERFUL DONORS.
BUT IT HAS BEEN -- AGAIN, IT'S MONEY GOING TO THE REPUBLICAN
PARTY MORE SO THAN ME. I WILL SAY, JOE, IT HAS BEEN AN
INTERESTING PROCESS, BUT ITS GRUELING WORK AND THERE'S NO
QUESTION ABOUT IT. THAT'S MY POINT.
THERE'S A LONG WAY TO GO AND THERE'S THE DEBATES, AND LOT OF
TRAVEL INVOLVED. I WOULD THINK WE WILL HAVE -- I
DON'T KNOW IF SHE IS GOING TO RELEASE MORE RECORDS OR HOW THE
CLINTON CAMPAIGN DECIDES TO DEAL WITH THIS, BUT IT WILL ALL COME
OUT AT SOME POINT BECAUSE IT'S SO GRUELING THAT IF SOMEBODY IS
NOT WELL IT WILL BE TOUGH TO GO THROUGH THE PROCESS.
WELL, IT IS. WHAT WAS INTERESTING, BECAUSE
THEY SAY PNEUMONIA ON FRIDAY BUT SHE WAS COUGHING BADLY A WEEK
AGO OR EVEN BEFORE THAT IF YOU REMEMBER, AND THIS WAS NOT THE
FIRST TIME. IT'S INTERESTING TO SEE WHAT IS
GOING ON. I WANT HER TO GET BETTER AND I
WANT HER TO GET OUT THERE AND I LOOK FORWARD TO SEEING HER IN
THE DEBATE. I WILL SAY THIS, WITH THE
SCHEDULING, IF YOU LOOK AT MY SCHEDULING AND COMPARED TO
ANYBODY ELSE'S SCHEDULING, THERE'S NOT A CONTEST.
I HAVE FOUND THE WHOLE CHALLENGE TO BE VERY INVIGORATING.
IT'S ABOUT MAKING AMERICA GREAT AGAIN, AND THAT'S WHAT WE ARE
DOING. SO MANY THINGS THAT CAN HAPPEN.
FOR ONE THING WE HAVE TO GET THE BUSINESS TAXES DOWN.
YOU KNOW, I SPEAK TO YOUR VIEWERS WHEN I SAY THAT, BUT WE
ARE BRINGING THE RATE DOWN FROM 35% TO 15%, AND BUSINESSES WON'T
BE LEAVING OUR COUNTRY ANYMORE AND BUSINESSES ARE GOING TO BE
REINVIGORATED AND IT WILL BE A GREAT THING TO WATCH, AND NOT
SINCE REAGAN HAS ANYBODY PROPOSED ANYTHING LIKE THIS.
JUST HAD ONE OF OUR FREQUENT GUESTS ON, AND I THINK HE BRINGS
UP A GOOD POINT. HE ASKED ME TO ASK YOU ABOUT
POINT HE WAS MAKING THAT BIG BUSINESS AND BUSINESS ACROSS THE
BOARD SEEMS TO HAVE TROUBLE FINDING ITS VOICE NOW WITH A LOT
OF THE COUNTRY, AND WE KNOW THAT THE PRIVATE SECTOR, BIG BUSINESS
AND SMALL BUSINESS, THAT'S WHERE THE JOBS COME FROM.
WHY DO YOU THINK THAT IS? I KNOW YOU TALK ABOUT FAIR TRADE
AS WELL AS FREE TRADE, AND DO YOU THINK THE RHETORIC ON BOTH
SIDES OF THE CAMPAIGN HAS CAUSED THERE OR ARE THERE ANY OTHER
REASONS BUSINESSES ARE HELD IN DISREGARD AT THIS POINT?
I LISTIN TO MARK, AND HE'S RIGHT, BUSINESS HAS LOST ITS
VOICE AND TAXES ARE TOO HIGH, AND THIS IS A LITTLE SURPRISING
IN WHAT I FIND AND GOING AROUND TO ALL OVER, BIG BUSINESS AND
SMALL BUSINESS, I AM MEETING EVERYBODY, AND WHAT I FIND IS
MORE DISCONCERTING TO BUSINESS REGULATIONS, AND IF YOU WOULD
HAVE TOLD ME BUSINESS REGULATIONS WOULD BE MORE
IMPORTANT THAN A BIG TAX PAINT AND IF YOU WOULD HAVE SAID
REGULATIONS ARE MORE IMPORTANT THAN THAT AND I WOULD HAVE SAID
NO WAY. REGULATION IS MUCH MORE
IMPORTANT TO THE BUSINESS THAN EVEN THE BIG TAX CUT.
I AM SO SURPRISED BY IT. WHEN YOU THINK ABOUT IT, YOU CAN
THINK TO UNDERSTAND IT. BUSINESSES ARE BEING PUT OUT OF
BUSINESS BY REGULATIONS AND EVERY DAY NEW REGULATIONS COME
DOWN, AND I AM NOT ONLY TALKING ABOUT SMALL BUSINESS I AM
TALKING ABOUT MASSIVE BUSINESSES TELLING ME, DONALD, YOU HAVE TO
DO SOMETHING, THEY ARE PUTTING US OUT OF BUSINESS.
THE ENERGY BUSINESS, THEY ARE MAKING IT IMPOSSIBLE FOR THEM TO
COMPETE IT'S SO ONEROUS, BUT THAT'S -- IT'S ALMOST LIKE IT
HAS BECOME A BUSINESS, THE BI S BUSINESS OF CREATION OF
REGULATION AND THE BUSINESS OF REGULATION IS TURNING OUT TO BE
A BIG BUREAUCRACY, AND I AM GOING TO KNOCK THE HELL OUT OF
IT. WE NEED FOR SAFETY AND
ENVIRONME ENVIRONMENT, CERTAIN RULES AND
REGULATION AND THEY ARE A GOOD THING, BUT ABOUT 80% OF IT, THEY
ARE TOTALLY UNNECESSARY. IT MAKES IT HARD TO COMPETE --
IT'S LIKE NEVER CLEAN OUT YOUR REFRIGERATOR AFTER THE
EXPIRATION DATE. IT'S HUNDREDS OF BILLIONS OF
DOLLARS THAT HAVE BEEN ADDED TO BUSINESS COSTS OVER THE EIGHT
YEARS OR SO. YOU REFERRED TO WHAT MARK
WEINBERGER WAS JUST SAYING. HE DOESN'T ENDORSE ONE CANDIDATE
OR THE OTHER BUT HE SAID THE BUSINESS COMMUNITY IS CONCERNED
BECAUSE THEY ARE NOT HEARING ENOUGH ABOUT THINGS ABOUT TRADE
OR IMMIGRATION OR HEARING ABOUT THINGS THEY WANT TO HEAR.
HOW DO YOU REASSURE SOME OF THE GLOBAL LEADERS THAT IT'S
SOMETHING THAT YOU ARE WORKING ON AND YOU WILL HAVE POLICIES
AND WILL REFLECT WHAT THEY WANT TO SAY?
I WOULD LOVE TO SPEAK TO MARK DIRECTLY IF HE WOULD WANT, BUT I
THINK I ADDRESSED TRADE -- I DON'T THINK HE LIKED WHAT
YOU SAID. I AMOUNT KING OF ILLEGAL
IMMIGRATION AND I WILL STOP IT AND NOBODY TALKS ABOUT IT MORE
THAN I DO, AND WE HAVE TO STOP IT, AND NOT ONLY IMMIGRATION,
BUT THE DRUGS. OUR YOUTH IS BEING POISENED AND
YOU GO TO PLACES LIKE NEW HAMPSHIRE, HEROIN, IT COMES FROM
THE SOUTHERN BORDER AND YOU GO TO OHIO, AS AN EXAMPLE, AND I
WAS THERE TWO DAYS AGO AND THE BIGGEST COMPLAINT THEY HAVE IS
WHAT IS POURING IN. NOBODY TALKS ABOUT IT MORE THAN
I DO, AND IT'S MY ISSUE, AND HILLARY CLINTON WANTS TO HAVE
OPEN BORDERS AND LET WHOEVER WANTS TO COME IN COME IN AND LET
THE DRUGS POUR IN. I AM A FREE TRADER, FIRST OF
ALL, AND I THINK JOE KNOWS THAT AND YOU KNOW THAT, BUT I WANT TO
MAKE GOOD TRADE DEALS. A LOT OF TIMES I WILL SAY WE
HAVE TO RENEGOTIATE NAFTA, WHICH IS A DISASTER FOR OUR COUNTRY.
NAFTA IS THE WORSE TRADE DEAL EVERY MADE NOT IN THIS COUNTRY,
BUT THE HISTORY OF THE WORLD. IT HAS TRAINED OUR COUNTRY OF
BUSINESSES. WHAT I WANT TO DO IS RENEGOTIATE
NAFTA. WHEN PEOPLE HEAR THAT, THEY SAY
I AM AGAINST TRADE BUT I AM NOT AGAINST TRADE BUT I WANT TO MAKE
GOOD DEALS. NAFTA IS A ONE-WAY STREET INTO
MEXICO AND OTHER PLACES, NOTHING COMES THROUGH HERE, AND IT'S A
ONE-WAY STREET TO THE POOR HOUSE.
WE ARE LOSING BUSINESS ON A DAILY BASIS, AND MEXICO IS THE
EIGHTH WONDER OF THE WORLD. AND I HAVE A FRIEND THAT TELLS
ME NEW PLANTS, AND HE TELLS ME THE PLANTS HE IS BUILDING IN
MEXICO ARE UNBELIEVABLE WHAT IS HAPPENING AND I SAID HOW ARE WE
DOING IN THE UNITED STATES, AND HE SAID NOT SO GOOD, IT'S
TERRIBLE. I WANT TO RENEGOTIATE TRADE
DEALS AND MAKE THEM GREAT. WE SHOULD BE HAPPY ABOUT THAT
AND NOT UPSET ABOUT THAT. SPEAKING OF MEXICO, YOUR
RECENT VISIT THERE, AFTERWARDS THE FINANCE MINISTER RESIGNED
AND STEPPED DOWN IN WHAT WAS SEEN AS A HUGE HIT TO THE
PRESIDENT THERE. AND HE WAS A GUY EDUCATED IN THE
UNITED STATES AND IF YOU TALK TO OTHERS, HE WAS PAVING THE WAY
AND ARE YOU SORRY TO SEE HIM GO? LUIS WAS A GREAT GUY AND HE
SAID I WAS DOING WELL IN THE CAMPAIGN, AND WE ARE DOING WELL
IN THE SWING STATES AND WE ARE LEADING IN MANY POLLS AND WE ARE
LEADING IN THE OVERALL POLLS AND CNN JUST CAME OUT WITH A NUMBER
THAT I AM LEADING BY TWO POINTS OVERALL AND WE ARE DOING VERY
WELL AND I THINK WE ARE GOING TO START TO DO BEYOND THAT.
WE HAVE A TREMENDOUS SCHEDULE TO GO, AND EVEN TODAY I AM GOING TO
THREE DIFFERENT STATES. YOU KNOW, LUIS SAW THAT, AND HE
WANTED TO ARRANGE A MEETING AND I THINK IT WAS A VERY POSITIVE
MEETING. I THINK THEY LOST A TREMENDOUS
TALEN THE WITH HIM AND I BELIEVE HE WILL BE BACK IN MEXICO, I
REALLY DO, AND I BELIEVE HE WILL BE BACK AT A HIGH LEVEL.
HE'S A REALLY GOOD GUY AND A REALLY GOOD TALENT.
I THINK THAT -- I THINK HE PROBABLY GOT A LOT OF PUBLICITY
AND IT WAS GOOD FOR OUR COUNTRY THE MEETING I HAD AND IT WAS
VERY GOOD FOR THE UNITED STATES AND PERHAPS IT WAS NOT GOOD FOR
MEXICO BUT MEXICO HAS TO UNDERSTAND IT'S NOT A ONE-WAY
STREET. WE HAVE TO GET SOMETHING OUT OF
THE DEALS ALSO. WE ARE GETTING NOTHING.
SHIFTING GEARS TO, YOU KNOW, OUR BREAD AND BUTTER, AND THAT'S
BUSINESS ISSUES AND THE FED. YOU MADE COMMENTS A WEEK OR TWO
ABOUT ARTIFICIAL MARKETS, AND MAYBE AS A REAL ESTATE GUY YOU
SAID I LIKE LOW INTEREST RATES, AND I THINK I DON'T KNOW WHETHER
YOUR POSITION SHIFTED A LITTLE BECAUSE THE FED HAS BEEN LOW FOR
SO LONG AND EVERYBODY THINKS IT'S NOT DOING THAT MUCH AND ARE
THEIR NEGATIVE AFFECTS AND DID YOU COME TO THE CONCLUSION THAT
MAYBE IT CAN'T STAY AT ZERO FOREVER AND WHAT DO YOU THINK
THEY SHOULD DO IN SEPTEMBER? IT'S STAYING AT ZERO BECAUSE
SHE'S OBVIOUSLY POLITICAL AND DOING WHAT OBAMA WANTS HER TO DO
AND I KNOW THAT'S NOT SUPPOSED TO BE THE WAY IT IS, BECAUSE
THAT'S WHY IT'S LOW, AND AS SOON AS THEY GO LOW THE STOCK MARKET
WILL GO WAY DOWN, AND DON'T FORGET, I CALLED BREXIT AND DID
A LOT OF CALLING AND WHAT THEY ARE DOING IS, I BELIEVE IT'S A
FALSE MARKET. MONEY IS ESSENTIALLY FREE.
I DON'T INVEST IN THE STOCK MARKET AND I THINK YOU SAW THE
STOCKS I BOUGHT, AND I BOUGHT A LOT OF STOCK AND I AM NOT A
STOCK MARKET GUY, AND I BOUGHT IT BECAUSE I DID NOT USE FREE
MONEY, AND THE STOCKS WENT WAY UP AND THEN I SOLD THEM BECAUSE
WHEN I DID THIS, WHEN I DECIDED TO DO THIS I FIGURED MAYBE
THERE'S A CONFLICT OF INTEREST, WHO KNOWS, AND WITH THEM THEY
ACCUSE YOU WITH ANYTHING SO I FIGURED I WOULD SALE, AND
ANYBODY COULD HAVE MADE MONEY. I THINK THEY ARE KEEPING THEM
DOWN AND THEY WILL KEEP THEM DOWN LONGER AND ANY ANY CREASE
AT ALL WILL BE A VERY, VERY SMALL INCREASE, JOE, BECAUSE,
YOU KNOW, THEY WANT TO KEEP THE MARKET UP SO OBAMA GOES OUT AND
LET THE NEW GUY, WHOEVER -- LET'S CALL IT A NEW GUY, YOU
KNOW, BECAUSE I LIKE THE SOUND OF THAT MUCH BETTER, BUT THE NEW
PERSON BECOMES PRESIDENT, LET HIM RAISE INTEREST RATES OR HER
RAISE INTEREST RATES AND WATCH WHAT HAPPENS TO THE STOCK MARKET
WHAT THAT HAPPENS BECAUSE YOU HAVE NO CHOICE.
THE PEOPLE THAT WERE HURT THE WORST ARE PEOPLE THAT SAVED
THEIR MONEY ALL THEIR LIVES AND THOUGHT THEY WOULD LIVE OFF
THEIR INTERESTS AND THOSE PEOPLE ARE GETTING CREAMED.
THE ONES THAT DID IT RIGHT, THEY SAVED THEIR MONEY AND CUT DOWN
ON THEIR MORTGAGES AND DID ALL THE THINGS THEY DID EXACTLY
RIGHT, AND NOW THEY ARE GETTING PRACTICALLY ZERO INTEREST ON THE
MONEY THEY WORKED SO HARD FOR OVER 40 YEARS.
I MEAN, THOSE PEOPLE HAVE REALLY BEEN -- YOU CAN ALMOST SAY
DISCRIMINATED AGAINST. THE INTEREST RATES ARE KEPT DOWN
BY PRESIDENT OBAMA. I HAVE NO DOUBT THAT THAT'S THE
REASON THEY ARE BEING KEPT DOWN. WHAT MAKES YOU THINK THAT?
AS A REAL ESTATE PERSON, I LOVE IT.
BUT FOR THE LAST 14 MONTHS I HAVE NOT BEEN ACTIVE -- I DO RUN
MY BUSINESS AND SPEND A LOT OF TIME ON MY BUSINESS, I HAVE TO
BE HONEST WITH YOU BECAUSE I AM RUNNING A CAMPAIGN AND BUSINESS,
WHICH IS NOT SO EASY, BUT I CERTAINLY HAVE NOT DONE AS MANY
DEALS AS I WOULD NORMALLY DO, BUT I LOVE LOW INTEREST RATES,
BUT FOR THE COUNTRY SOMETHING HAS TO HAPPEN.
I DON'T THINK IT'S GOING TO HAPPEN VERY MUCH BECAUSE HE
WANTS TO GO OUT AND HE WANTS TO PLAY GOLF FOR THE REST OF HIS
LIFE AND HE DOESN'T CARE WHAT IS GOING TO HAPPEN AFTER JANUARY.
LET'S SAY, DONALD, THAT WE DO SOME OF THIS AND LET'S SAY WE
CUT TAXES, AND WE CAN'T FIND ENOUGH WASTE IN THE GOVERNMENT
TO PAY FOR EVERYTHING, AND WE DO INFRASTRUCTURE AND WE HAVE THIS
INCREDIBLE, YOU KNOW, DEFICIT RUN-UP TO WHERE WE ARE PAYING
INTERESTS ON THAT. IF RATES GO UP, WHAT ARE WE
GOING TO DO? IT'S GOING TO BE MUCH MORE
EXPENSIVE FOR WHAT WE HAVE ALREADY DONE?
IT'S A PROBLEM FOR THE COUNTRY AND WE ARE TALKING ABOUT
RATES THAT ARE PRACTICALLY AT ZERO, IF I REFINANCE SOMETHING I
GET MONEY FOR ALMOST NOTHING. TO A CERTAIN EXTENT, IT'S
WONDERFUL, I LOVE IT AND I AM GETTING AS MUCH LONG-TERM STUFF
I CAN AND I HAVE LITTLE DEBT, BUT I WILL TELL YOU THIS, JOE,
AT SOME POINT IF RATES EVER GO UP TO A MORE NATURAL LEVEL, YOU
KNOW, THESE ARE THE LOWEST RATES IN HISTORY, AND IF RATES GO UP,
WE HAVE $20 TRILLION, YOU KNOW, AND WE DOUBLED OUR DEBT UNDER
OBAMA, DOUBLED IT. EXACTLY, BY THE TIME HE LEAVES
IT WILL MORE THAN HAVE DOUBLED IN EIGHT YEARS, AND IN EIGHT
YEARS WE DOUBLED WHAT HAPPENED IN HUNDREDS OF YEARS, THINK OF
IT. WE DOUBLED THE DEBT OVER THE
LAST EIGHT-YEAR PERIOD, AND THE WORST PART, WE HAVE NOT GOT
ANYTHING WITH IT, WE HAVE NOT REBUILT BRIDGES OR HIGHWAYS OR
AIRPORTS AND OUR AIRPORTS ARE A DISASTER AND ROADWAYS AND
TUNNELS ARE DANGEROUS. THE WHOLE THING IS A MESS.
WE ARE $20 TRILLION AND OUR INFRASTRUCTURE IS A DISASTER,
AND WE SPENT $6 TRILLION IN THE MIDDLE EAST, AND WE COULD HAVE
REBUILT OUR COUNTRY TWICE, AND THAT'S BECAUSE IT WAS RUN BY
POLITICIANS THAT DON'T HAVE A CLUE AND OUR COUNTRY IS IN
TROUBLE. IT'S ONE THING IF WE HAD $20
TRILLION AS CRAZY AS THAT NUMBER S. BUT OUR ROADS ARE NEW AND
BRIDGES ARE BEAUTIFUL, AND MANY OF THEM ARE IN DANGER OF FALLING
DOWN AND YOU SEE THE REPORTS AND IT'S A SAD THING WHAT IS GOING
ON. WE HAVE A COUNTRY THAT NEEDS
MASSIVE INVESTMENT AND AT THE SAME TIME WE ARE AT $20
TRILLION. MR. TRUMP, CAN I GO BACK TO
THE FED FOR JUST A MOMENT. YES.
WHAT YOU SAID ABOUT JANET YELLEN ABOUT HOW SHE IS DOING
WHAT OBAMA WANTS HER TO DO, THAT PLAYS INTO A STREAM THAT WE HAVE
SEEN FROM THE LEFT AS WELL, AND JUST LAST WEEK SENATOR ELIZABETH
WARREN WAS WORKING WITH A GROUP CALLED FED UP AND THEY ARE
TRYING TO PUT CONSTRAINTS ON THE FED AND GET THEIR ARMS AROUND IT
A LITTLE MORE AND IN A TRUMP ADMINISTRATION WOULD YOU PUT
MORE CONSTRAINTS ON THE FED AS WELL?
WHAT I WOULD WANT TO DO IS HAVE A POLICY -- I WOULDN'T GO
BY WHAT POCAHONTAS WANTS YOU TO DO, BECAUSE HER AGENDA IS
OBVIOUS, AND SHE'S A DISASTER AND ONE OF THE LEAST EFFECTIVE
SENATORS IN THE UNITED STATES SENATE, AND NOBODY UNDERSTANDS
THAT, BUT SHE'S DONE NOTHING. I WOULD WANT TO HAVE A POLICY
WHERE WE CAN START TO AT LEAST GENTLY REDUCE DEBT AND GET
THINGS UNDER CONTROL, BECAUSE RIGHT NOW IT'S NOT UNDER
CONTROL. WHAT HAPPENS IF INTEREST RATES
GO UP FAIRLY SUBSTANTIALLY AND WITH ALL OF THE MONEY WE HAVE
AND ARE BORROWING, DO YOU KNOW WHAT THAT DOES TO OUR BALANCE
SHEET? OBVIOUSLY, IT'S HUGE.
AND THE RATES ARE CRAZY LOW INTEREST RATES, AND THEY ARE NOT
ALWAYS GOING TO BE THIS WAY BECAUSE OF MARKET AND MARKET
COMPETITION, AND WHAT WILL HAPPEN WHEN INTEREST RATES GO
UP? THEY WILL GO UP.
I WAS THERE WITH JIMMY CARTER WHEN THE RATE WAS 21% --
NO, I REMEMBER MY PARENTS HAD AN 18% MORTGAGE RATE AT ONE
POINT. I THINK THE PRIME RATE WENT
TO 21%. YOU THINK THAT CAN NEVER HAPPEN
AGAIN. IT'S LIKE THE BASEBALL PLAYERS,
THEY HAVE A GOOD SEASON AND THEN THOUGH GO OUT AND LIVE LIKE THEY
ARE GOING TO HAVE A SEASON LIKE THAT FOR THE REST OF THEIR LIVES
AND IT DOESN'T WORK OUT THAT WAY, AND THAT'S WITH A WE ARE
DOING, WE ARE LIVING LIKE WE WILL HAVE NO INTEREST RATES, AND
THE NUMBERS ARE SO LOW, AND SHE'S KEEPING THEM ARTIFICIALLY
LOW TO LET OBAMA RETIRE. THIS IS A QUESTION OF FED
INDEPENDENCE. WE HAVE A NOTION THAT THE
FEDERAL RESERVE OPERATES INDEPENDENTLY FROM THE
ADMINISTRATION AND CONGRESS AND THERE ARE QUESTIONS ON ALL SIDES
SURROUNDING THE FED RIGHT NOW ABOUT PEOPLE WHO THINK THEY ARE
NOT AND FINDING WAYS TO DO THAT, AND I GUESS THE QUESTION OF FED
INDEPENDENCE IS THE BIGGEST I HAVE?
I USED TO THINK THE JUSTICE DEPARTMENT WORKED INDEPENDENTLY
ALSO AND THE FBI WAS INDEPENDENT ALSO BUT THAT'S NOT POSSIBLE
BECAUSE HILLARY CLINTON IS GUILTY AS HELL AND EVERYBODY
KNOWS IT AND ANY THIRD-RATE LAWYER WILL TELL YOU THAT AND
IT'S OBVIOUS, ALL YOU HAVE TO DO IS READ AND WATCH.
I USED TO THINK THEY WERE INDEPENDENT.
I USED TO HOPE THAT THE FED WAS INDEPENDENT AND THE FED IS NOT
INDEPENDENT. IT'S NOT CLOSE TO BEING
INDEPENDENT. I GUESS YOU SAW THE MARKETS
REACTION TO BREXIT WAS NOT WHAT ANY ECONOMIST EXPECTED, AND
CHRISTINE SAID SHE TALKED TO ALL THE EXISTS AND IT WAS GOING TO
BE A DISASTER IF BRITAIN VOTED TO LEAVE AND NOT ONLY HAS THE
STOCK MARKET DONE BETTER BUT THE MATRIX HAS DONE BETTER BECAUSE
OF THE WEAKER POUND AND EVERYTHING ELSE, AND DO YOU
THINK THAT'S AN INDICATION, MAYBE GLOBALIZATION IS IMPORTANT
AND THEN AGAIN SO IS LOOKING OUT FOR NUMBER ONE IN THIS CASE,
WHETHER IT'S BRITAIN OR THE UNITED STATES, AND MAYBE THERE'S
SOMETHING TO THAT. WELL, THEY CALL ME MR. BREXIT
OVER THERE, AND I PREDICTED IT AND CALLED IT AND I TOOK SUCH
HEAT YOU WOULDN'T BELIEVE IT, AND I SAID I WOULD THINK IT WAS
PASS AND I OWN A LOT OF PROPERTY IN THE UK, AND THEY ASKED ME TWO
WEEKS BEFORE WHEN IT WAS NOT FASHIONABLE AND I SAID I THINK
IT WILL PASS BECAUSE PEOPLE WANT INDEPENDENCE AND THEY ARE TIRED
OF TAKING IN PEOPLE FROM OTHER PLACES THAT WANT TO BLOW THEM
UP, AND I THOUGHT IT WOULD PASS AND OBAMA SAID IF THEY PASSES
THEY ARE GOING TO THE BACK OF THE LINE, WHICH I THINK HELPED
IT PASS, IF YOU WANT TO KNOW THE TRUTH.
YOU KNOW, THAT THE WAY IT IS. THEY WANTED INDEPENDENCE.
I THINK IT WAS VERY SMART. I THINK THE UK IS GOING TO DO
BETTER BECAUSE OF IT, AND THE WHOLE THING WITH THE -- YOU
KNOW, TYING IT ALL UP LIKE THAT, IT HAS BEEN A TERRIBLE THING.
I NEEDED CERTAIN APPROVALS ON A JOB, AND I COULDN'T -- I COULD
GET THEM FROM THE COUNTRY BUT I COULDN'T GET THEM -- NATIONALLY
IT WAS IMPOSSIBLE TO GET ANYTHING APPROVED AND IT WAS
HORRIBLE, AND THE UK WANTED INDEPENDENCE AND THEY GOT IT,
YOU KNOW, I THINK THEY WILL BE BETTER OFF FOR IT.
IT'S A VERY SHORT PERIOD OF TIME BUT IT'S TURNING OUT TO BE
BETTER SO FAR AND THEY ARE VERY HAPPY.
IF A VOTE WERE TAKEN TODAY IT WOULD DO BETTER, AND THEY ARE
VERY HAPPY ABOUT IT SKPR, AND IN BIG INVESTOR OVER THERE, I LIKE
IT BETTER. YOU MADE COMMENTS ABOUT THE
PRESIDENT'S RECENT TRIP TO ASIA AS WELL, AND IN TERMS OF IT NOT
BEING AS MAYBE WELL RECEIVED AS THE, YOU KNOW, HEAD OF THE --
THE LEADER OF THE FREE WORLD SHOULD BE.
ANY ADDITIONAL COMMENTS ON THAT? WHEN YOU SAY "WELL RECEIVED,"
THEY WOULD NOT EVEN GIVE HIM A CHANCE TO GET OUT OF THE
AIRPLANE. THIS IS THE FIRST TIME THE GREAT
AIR FORCE ONE WITH ITS INCREDIBLE HISTORY HAS LANDED
WHERE THEY WOULD NOT GIVE HIM STAIRS TO GET OUT OF HIS
AIRPLANE. IT WAS TERRIBLE.
HE HAD TO GET OUT OF THE -- THEY CALL IT THE MECHANIC STAIRS, AND
THAT'S THE STAIRS TO FIX THE PLANE WHEN SOMEBODY HAS TO RUN
UP AND FIX A LIGHT BULB, RIGHT, AND THIS IS OUR PRESIDENT.
BY THE WAY, SHORTLY BEFORE SHOW SHOWED OTHER HEADS OF STATE FROM
OTHER COUNTRIES COMING DOWN ON THESE MAGNIFICENT STAIRWAYS WITH
RED CARPET, AND HE CAME DOWN ON THE MECHANICS STAIRS, AND WHEN
HE LANDED IN CUBA, CASTRO WAS NOT THERE TO GREET HIM.
WHEN HE LANDED IN SAWEUDI ARABI NOBODY GREETED HIM.
IF IT WAS ME, IF SOMEBODY WAS NOT THERE TO GREET ME, BUT OUR
NATION, BECAUSE IT'S OUR NATION, I WOULD HAVE TOLD THE CAPTAIN,
CLOSE UP THE DOORS AND LET'S GO TO WASHINGTON, AND THE SAME
THING WITH SAUDI ARABIA AND THE SAME THING WITH CHINA.
I HAVE NEVER SEEN ANYTHING LIKE IT.
THEY WERE STANDING THERE AND WOULD NOT PROVIDE THEM WITH THE
STAIRS AND PEOPLE WERE FIGHTING ON THE RUNWAY WITH CHINESE
OFFICIALS AND WHAT A SIGN OF TOTAL DISRESPECT.
IT'S LIKE THE IRANIANS RUNNING THEIR BOATS AROUND OUR
DESTROYERS AND MAKING CRUDE GESTURES AT OUR SAILORS, AND
IT'S LIKE THAT, AND YOU SAY, HOW DOES THAT HAPPEN?
LIKE WHEN THEY CAPTURED OUR TEN SAILORS, JOE, AND THEY WOULD NOT
HAVE GIVEN THEM BACK, BUT THE MONEY STARTED POURING IN AND
THEY HAD TO GIVE THEM BACK BECAUSE THEY WANTED THE $150
BILLION, AND THE PAYMENT STARTED TWO DAYS AFTER THAT, SO
OBVIOUSLY THEY GAVE THEM BACK ONLY FOR THAT REASON, AND IF IT
WERE NOT FOR THAT THEY WOULD STILL BE THERE.
THERE'S A GREAT LACK OF RESPECT. WHAT I SAW IN CHINA WHERE THEY
WOULD NOT PROVIDE STAEURIRS OUT AIR FORCE ONE WAS, TO ME,
INCREDIBLE. MR. TRUMP YOU ARE KNOWN WITH
A GREAT NEGOTIATOR, AND I WONDER WHAT YOU WOULD DO ABOUT NORTH
KOREA? AFTER THIS LATEST NUCLEAR BOMB
THEY SET OFF, THE LATEST I READ THIS MORNING IS THE NORTH
KOREANS ARE SAYING THIS IS LAUGHABLE, THE IDEA OF
ADDITIONAL SANCTIONS, AND HOW WOULD YOU GET A BETTER DEAL WHEN
YOU ARE POTENTIALLY DEALING WITH A MAD MAN?
WE ARE DEALING WITH A MAN THAT HAS GOT SOME DIFFICULTIES,
NO QUESTION ABOUT IT, BUT I WILL SAY THIS, CHINA HAS TREMENDOUS
POWER OVER NORTH KOREA, TREMENDOUS POWER, AND ALSO IRAN
IS ONE OF THEIR BIGGEST TRADING PARTNERS.
WHEN WE MADE THIS HORRIBLE IRAN DEAL, ONE OF THE MOST
INCOMPETENT DEALS I HAVE SEEN, THEY SHOULD HAVE PUT IN YOU HAVE
TO HELP US WITH NORTH KOREA BECAUSE THEY ARE ONE OF THEIR
BIGGEST TRADING PARTNERS, AND THE ONE THAT REALLY HAS POWER
THAT CAN CUT THEM OFF COMPLETELY IS CHINA.
CHINA DOESN'T LIKE TO SAY THEY HAVE POWER BECAUSE THEY WANT TO
TWEAK THE UNITED STATES, AND LOOK WHAT CHINA IS DOING, THEY
ARE BUILDING IN THE SOUTH CHINA SEA A MILITARY FORETRUSS, AND WE
HAVE POWER OVER CHINA BECAUSE THEY SUCK IS DRIVE, AND I HAVE
THE BIGGEST BANK THERE HAS MY TENANT AND I HAVE GREAT
RELATIONSHIPS WITH CHINA, AND WHAT I SAY THEY KNOW IS TRUE,
AND THEY JUST RENEWED THE RELEASE AND I COULDN'T BELIEVE
IT, AND THEY OBVIOUSLY LIKE THE BUILDING.
WE HAVE TREMENDOUS POWER OVER CHINA BECAUSE THEY TAKE SO
MUCH -- THEY SUCK SO MUCH MONEY OUT OF THE UNITED STATES.
WE SHOULD GET CHINA TO FIX THAT PROBLEM, AND WE SHOULD USE OUR
ECONOMIC POWER BECAUSE WITHOUT US CHINA WOULD BE IN SERIOUS
TROUBLE. THEY HAVE -- THEY TAKE
TREMENDOUS AMOUNTS OF DOLLARS OUT OF THE UNITED STATES AND
WITHOUT US CHINA WOULD BE IN TREMENDOUS PROBLEMS, BUT WE
DON'T HAVE LEADERSHIP AND PEOPLE TO GET THEM TO DO THAT AND WHEN
YOU ASK THE CHINESE, OH, WE DON'T WANT TO GET INVOLVED.
THEY DON'T WANT TO GET INVOLVED. IN THE MEANTIME THIS GUY IS
DEVELOPING THE REAL DEAL. TWO YEARS AGO THEY WERE SAYING
THEY COULDN'T LIFT THEM OFF THE ROCKET SHIPS AND NOW IT'S THE
REAL DEAL AND I THINK HE IS BEING HELPED BY IRAN, AND I
THINK THEY ARE BEING HELPED BY IRAN, BUT YOU LOOK AT THEIR
TECHNOLOGY AND IT'S GETTING BETTER ALL THE TIME, AND
SOMETHING DAMN WELL BETTER BE DONE SOON, BECAUSE ONCE HE IS
SET, LIKE YOU SAID, HE MAY BE OR MAY NOT BE A MAD MAN, BUT HE'S
GOT EVIL INTENTIONS, NO QUESTION ABOUT IT.
WHEN YOU REFER TO CHINA AND THEY ARE SUCKING A LOT OUT OF US
IN TERMS OF THE ECONOMY, BUT I BELIEVE THEY OWN THE LARGEST
PERCENTAGE OF OUR DEBT, SO THEY HAVE A BIG CHIP WITH US AS WELL.
IT'S ALL THE MORE POWER WE HAVE OVER THEM, AND BECAUSE OF
THAT WE HAVE MORE POWER OVER THEM.
YOU DO UNDERSTAND THAT RIGHT, BECKY?
BECAUSE OF THE IDEA IF WE OWE THE BANK $100 --
LOOK, WE OWE CHINA $2 TRILLION, OKAY?
$2 TRILLION. HARD TO BELIEVE, BUT THAT'S WHAT
IT IS. THEY SUCK THE BLOOD OUT OF US
AND WE OWE THEM MONEY. THEY ARE MAGIC UPBZ.
YOU WON'T DEFAULT ON THE DEBT?
NO, WE WOULD NOT. CHINA HAS DEFAULTED WITH US
BECAUSE IF YOU LOOK AT WHAT THEY ARE DOING WITH INTELLECTUAL
PROPERTY, $300 BILLION A YEAR. YOU LOOK WITH WHAT THEY ARE
DOING WITH STEALING OUR INTELLECTUAL PROPERTY AND
RIGHTS, IT'S CRAZY WHAT THEY ARE DOING.
IT'S LIKE NO LAWS THAT PERTAIN TO THEM.
YOU COULD MAKE A CASE IN A COURT WHAT THEY HAVE DONE TO US IS
INCREDIBLE. AND THEN THEY COME OVER AND GET
STEAK DINNERS, WE GIVE THEM STATE DINNERS.
HONESTLY, IT'S A VERY SAD THING, HOW CHINA HAS OUT NEGOTIATED US,
IT'S SAD. CHINA COULD SOLVE THE PROBLEM WE
HAVE WITH NORTH KOREA IN ONE DAY IF THEY WANTED TO.
WE HAVE A CAN -- I DON'T KNOW HOW MUCH TIME WE HAVE LEFT, BUT
I WANT TO TALK ABOUT THE DEBATES AND HOW YOU ARE PREPARING FOR
THOSE AND WHETHER YOU LIKE THE MODERATORS SELECTED?
I WOULD LIKE TO SEE WHAT WE HAVE BEEN TALKING ABOUT, INSTEAD OF
MAYBE ADD MOMMING STUFF, IT WOULD BE GREAT TO HAVE THE
DISCUSSION WE JUST HAD. REAL QUICKLY ON THE WALL STREET
JOURNAL, IF YOU ARE GOING TO GET SOMEWHAT OBJECTIVE TREATMENT YOU
HAVE TO LOOK HERE, BUT THE HEADLINE TODAY "ARE CLINTON AND
TRUMP HEALTHY ENOUGH TO SERVE?" .
AT LEAST THEY ADDRESS THE CLINTON ISSUE BUT HAD TO THROW
YOU IN THERE, TOO. THEY ALWAYS DO.
WOULD YOU RELEASE YOUR FULL HEALTH RECORDS IF SHE RELEASES
HERS? YOU KNOW WHAT I DID?
YOU WOULD BE PROUD OF ME. I SAW WHAT WAS GOING ON WITH
HER, AND I SAID I WILL DO SOMETHING AND I TOOK A PHYSICAL
AND THIS WEEK WE ANNOUNCE THE RESULTS OF IT, THEY COME IN.
I DID PRETTY MUCH THE WHOLE DEAL, AND BECAUSE I THINK WE
SHOULD, I THINK WE SHOULD DO THAT, AND SO I WILL BE
ANNOUNCING SOMETIME DURING THE WEEK I WILL HAND OUT A PAPER
WITH VERY LARGE NUMBERS, VERY DETAILED -- HOPEFULLY GOOD
STATISTICS. I FEEL VERY CONFIDENT, OTHERWISE
I PROBABLY WOULD NOT BE TELLING YOU I DID THIS, RIGHT?
I WILL BE RELEASING SOMETHING THIS WEEK IN GREAT DETAIL AS TO
A PHYSICAL. I LIKE THAT.
AS FAR AS THE DEBATES ARE CONCERNED, AND THE SYSTEM IS
BEING GAMED BECAUSE EVERYBODY SAID I WON THE SO-CALLED FORUM
THAT YOUR GROUP PUT ON, BUT THEY ALL SAID I WON AND THAT MATT
LAUER WAS EASY ON ME, AND HE WASN'T, AND I THINK HE WAS
PROFESSIONAL AND HAS BEEN TREATED UNFAIRLY, AND THEY ALL
SAID I WON SO WHEN I GO INTO THE DEBATE I WILL BE TREATED
UNFAIRLY BY THE MODERATORS. THIS IS NO DIFFERENT THAN THE
GREAT BOBBY KNIGHT, AND HE ENDORSED ME AND I WON IN A
LANDSLIDE AFTER GETTING HIS ENDORSEMENT AND HE WOULD DO
NUMBERS ON THE REFEREE AND TOWARDS THE END OF THE GAME,
THEY WOULD JUST SORT OF, YOU KNOW, MAYBE SUBCONSCIOUSLY GIVE
HIM THE CALLS AND HE WAS A MASTER AT IT.
WELL THEY ARE DOING THE SAME THING NOW.
THEY ARE SAYING ABOUT HOW MATT LAUER -- HE WAS NOT NICE TO ME,
AND HE WAS TOUGH. I ANSWERED THEM BETTER THAN SHE
DID. THE FACT IS THEY ARE GAMING THE
SYSTEM, AND I THINK MAYBE WE SHOULD HAVE NO MODERATOR.
LET HILLARY AND I SIT THERE AND JUST DEBATE.
I THINK THE SYSTEM IS BEING RIGGED SO IT'S GOING TO BE A
VERY UNFAIR DEBATE. I CAN SEE IT HAPPENING RIGHT NOW
BECAUSE EVERYBODY WAS SAYING HE WAS SOFT ON TRUMP AND NOW THE
NEW PERSON IS GOING TO TRY AND BE REALLY HARD ON TRUMP JUST TO
SHOW THE ESTABLISHMENT WHAT HE CAN DO.
I THINK IT'S VERY UNFAIR WHAT THEY ARE DOING.
I THINK WE SHOULD HAVE A DEBATE WITH NO MODERATOR, JUST HILLARY
AND I SITTING THERE TALKING. MR. TRUMP, WE APPRECIATE ALL
THE TIME YOU HAVE GIVEN US THIS MORNING.
I KNOW YOU HAVE OTHER THINGS ON YOUR SCHEDULE, AND WE WILL TALK
TO YOU AGAIN SOON HOPEFULLY. THANK YOU.
THANK YOU VERY MUCH, JOE AND BECKY.
THANK YOU. YOU ARE WELCOME.